Quick intro
What’s the problem?
Especially when starting or working on a side hustle, how to use your time can be key. After a full workday, the time left to spend on your own business is scarce. Also other things in life need focus and a clear mind, like relationships, family time, and sports. So in all this daily flow and time management, how do you ensure that you are side hustling in the right direction?
Own background
What’s my context/experience?
In 2020, I started LIVRIA CLUB, a social media platform for underground musicians to connect and inspire each other. Besides my master's study, I programmed this platform and convinced some musicians (mainly friends or artists I found on Soundcloud) to join. I quickly realized that people would sign up but never log in again because there was no remaining value after checking out other musicians.
So I thought it would make sense to do more marketing in the form of content to attract more musicians and aim for network effects. Starting with content production, I slowly detached from promoting my coded platform and aimed to become the next COLORS on Youtube and Instagram. My plan and excitement were set, and I decided to combine that strategy with fashion and release some designed shirts.
After producing t-shirts for our online shop, over two years of video shoots and production, and consistent uploads on Instagram and Youtube, I realized this wasn't working (at least not how I was doing it). "Not working" means it's nice, fun (but a lot of work), connects me with many musicians, and builds up a local community but doesn't set the foundation for a sustainable business model. So I decided to pivot. And pivoting can be hard. In my case, it was and still is complicated to change direction after building a team, expectations, a community, and social media presence around the initial vision. But it's essential. It is essential to remind myself that my vision is not just to have fun and create cool things but to make a living with an outstanding income. And the challenge from day one was to find a business model that could make this vision a reality.
So as mentioned I decided to pivot again. And this second, more significant pivot for LIVRIA consisted of focusing more on local events that should foster the community. This pivot resulted from discussions with the team during months of trying to find a business model, not finding it, and deciding to focus further on building a community first.
So we had a new way. And it was exciting for me (like every new thing to build up and explore, like a new adventure to take after years of content production). About eight weeks after the pivot, two community events and a new partnership with a location owner later, I knew we had to change directions again. I knew that our approach wasn't financially viable and another pivot was necessary. My initial excitement about the community events was high, but after an intense feedback conversation with my girlfriend I realized that putting so much effort into self-organized events is not the best way to grow the business. Especially when my time as a side-hustle founder is scarce.
So I sat down again. By myself. Recapping my mission, my financial goals, and the urgency of not wasting any more time if there is no business model to work towards. After several hours of thoughts, brainstorming and whiteboarding, I came up with an idea of how to make money with LIVRIA. Just an idea. Just another vision. But there was a clear path to revenue. And that felt good. My motivation was back. I know that I'm good at executing if I have a plan. And now, the plan seemed to lead to financial independence and growth. It was my first pivot towards an actual business model. But definitely not the last.
My approach
How do I tackle it?
So how can I ensure I'm following my goals with my side hustle? And even: how to know that my goals are the right ones? In my case, people and reflection make the difference. My girlfriend, for example, is a valuable ambassador for my life's big picture. She does not hesitate to ask the hard questions: why are you doing this? Is this fun or business? If you continue like this, will you reach your life goals? Is it worth it?
Having a partner or friends that mirror your values in front of you is extremely powerful. But you can also do this yourself, involving extra work and reflection. Just regularly ask the important questions and zoom out of the daily work on your project to see the broader picture of your life and where it is heading.
Another big aspect is proper goal setting. Using goal-setting frameworks like OKRs can be extremely valuable as a compass. Besides being a compass, you also always have a sheet to reflect on the direction you're moving towards and whether a pivot would make sense.
A framework that I created for myself might help you as well:
To effectively use the Focus Framework, follow these steps:
Define Your Business Model: Clearly articulate how your business will generate revenue. Consider your values, personal mission, skills/knowledge, and passions as the foundation for your business model.
Set Goals: Establish goals to get going with your business model. Formulating Objectives and Key Results (OKRs) can be one method to ensure that your goals are specific, measurable, achievable, relevant, and time-bound.
Build a Strong Team (if applicable): Surround yourself with talented and motivated individuals who share your vision and can contribute to your project’s success.
Develop Efficient Systems: Implement systems and processes to streamline your operations and maximize productivity.
Regularly Reflect: Take time to reflect on your progress, assess your focus, and evaluate the need for a pivot. Utilize data, feedback from coaches, consultants, business partners, friends, and self-reflection to gain valuable insights. Remember that your values, mission, skills, and passions can also enable a broader reflection and inform your decisions.
Inspiration I used for this article
Books, Podcasts, Articles, Quotes
- IKIGAI by Héctor García and Francesc Miralles on identifying your values, passion, skills and mission.
- The OKR Framework explained by a founder.
- Talk by Simon Sinek on how leaders inspire action by setting their Why, What and How.
- Lean Startup by Eric Ries providing a scientific framework on how to pivot.
Community Space
Your comments, ideas, feedback
- Have you ever experienced a situation where you had to pivot your project? What challenges did you face, and how did you overcome them?
- How do you stay focused on your side hustle goals while juggling other commitments like a full-time job, family, or personal life?
- What goal-setting frameworks or strategies do you find most effective for your side hustle?
- Do you have a support system or mentors who help you stay on track with your business? How important are they to your success?
- ...
Join the discussion below. Or write me an email to fabiano@40hourentrepreneur.com